Raymond James Financial Inc. Buys New Shares in Piper Sandler Companies (NYSE:PIPR)

Raymond James Financial Inc. bought a new stake in shares of Piper Sandler Companies (NYSE:PIPR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 24,884 shares of the financial services provider’s stock, valued at approximately $7,464,000. Raymond James Financial Inc. owned approximately 0.14% of Piper Sandler Companies as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of PIPR. FMR LLC lifted its stake in shares of Piper Sandler Companies by 49.0% during the 3rd quarter. FMR LLC now owns 625,048 shares of the financial services provider’s stock valued at $177,395,000 after buying an additional 205,584 shares in the last quarter. Fred Alger Management LLC purchased a new position in shares of Piper Sandler Companies during the 3rd quarter valued at $14,645,000. Proficio Capital Partners LLC purchased a new position in shares of Piper Sandler Companies during the 4th quarter valued at $8,097,000. Barclays PLC lifted its stake in shares of Piper Sandler Companies by 307.2% during the 3rd quarter. Barclays PLC now owns 32,328 shares of the financial services provider’s stock valued at $9,174,000 after buying an additional 24,388 shares in the last quarter. Finally, Philadelphia Financial Management of San Francisco LLC purchased a new position in shares of Piper Sandler Companies during the 3rd quarter valued at $6,106,000. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Stock Performance

Shares of NYSE PIPR opened at $259.10 on Monday. The company has a market cap of $4.59 billion, a P/E ratio of 25.35 and a beta of 1.46. The company has a fifty day moving average of $271.07. Piper Sandler Companies has a 52-week low of $183.58 and a 52-week high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last posted its earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share for the quarter, topping analysts’ consensus estimates of $3.99 by $0.81. Piper Sandler Companies had a net margin of 11.87% and a return on equity of 17.00%. During the same period in the prior year, the firm posted $4.03 EPS. As a group, equities analysts anticipate that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend was Tuesday, March 4th. Piper Sandler Companies’s dividend payout ratio is 25.44%.

Analysts Set New Price Targets

A number of analysts have issued reports on PIPR shares. The Goldman Sachs Group reduced their price target on shares of Piper Sandler Companies from $321.00 to $286.00 and set a “neutral” rating on the stock in a report on Friday, March 14th. StockNews.com downgraded shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Finally, JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a report on Monday, February 3rd.

About Piper Sandler Companies

Piper Sandler Companies operates as an investment bank and institutional securities firm that serves corporations, private equity groups, public entities, non-profit entities, and institutional investors in the United States and internationally. It offers investment banking services and institutional sales, trading, and research services for various equity and fixed income products; advisory services, such as mergers and acquisitions, equity and debt private placements, and debt and restructuring advisory; raises capital through equity and debt financings; underwrites municipal issuances; and municipal financial advisory and loan placement services, as well as various over-the-counter derivative products.